BTC.com, The Bitcoin Mining Giant To Launch An Ethereum Mining Pool

by | Aug 31, 2018 | Bitcoin, Cryptocurrency, Cryptocurrency News, Mining

btc.com | btc.com bitcoin mining pool | btc. com ethereum mining pool

Now, should we consider this as cheating on Bitcoin or just an attempt to befriend Ethereum? BTC.com, the world’s biggest Bitcoin mining pool released a new client specifically built to mine the Ethereum blockchain.

BTC.com, a subsidiary of cryptocurrency mining hardware giant Bitmain, currently accounts for roughly 16 percent of the computing power driving Bitcoin $BTC?0.14% (hash rate). As for Bitcoin Cash, it makes up around 14 percent of the network. Now, the dominator has chosen its next target as Ethereum. Zhuang Zhong, Director of BTC.com’s mining pool, reveals the company’s aim:

“We expect mining operations to grow to 12 [percent] of ETH total hashrate in the next 12 months.”  

Notably,  Zhong sounded confident about the proposed transition from a Proof-of-Work algorithm to a Proof-of-Stake (PoS) consensus style, through the upcoming Casper protocol, won’t deter it from mining Ethereum. He said in the statement:

“It’s still possible to host a mining pool in PoS mode. It will increase the complexity to design such a pool since miners need to deposit [E]ther to the mining pool, but we have a lot of hands-on experience with a wallet and Ethereum smart contracts to make a PoS mining pool possible.”

Though, he did not reveal any details on how the PoS mining pool implementation would work. Well, we will see how, when it comes into action, for now, the miners of the second largest cryptocurrency after Bitcoin, Ethereum should rejoice in this development.

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Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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